* Renault 2008 unit sales down 4.2 percent
* Global market share stable at 3.6 percent
* Says cutting vehicle stocks remains priority for 2009
* Renault shares rise 4.1 percent
(Adds comments from news conference)
By Helen Massy-Beresford and Matthias Blamont
BOULOGNE-BILLANCOURT, France, Jan 9 (Reuters) - French carmaker Renault posted a 4.2 percent drop in 2008 unit sales in a world market that fell 4.8 percent, and set further reducing its stock of unsold vehicles as a priority for 2009.
Sales of Renault brand vehicles fell 5.4 percent while Dacia brand sales rose 11.7 percent, for a market share that was stable at 3.6 percent, the company said on Friday.
On Tuesday, chief operating officer Patrick Pelata said Renault had met its target of reducing vehicle stocks to end-2007 levels by the end of 2008, but the company said on Friday that "inventory management and reduction will remain a priority throughout 2009".
In common with other manufacturers, Renault has announced job cuts and temporary plant closures as it struggles to cope with a worldwide drop in vehicle sales.
On Thursday, its 44-percent owned subsidiary Nissan- which is not included in Renault group sales data - said it was cutting 1,200 jobs at its Sunderland plant in northeast England in response to the dramatic decline in demand. Renault said it expected the auto industry to remain in crisis in 2009 but it had three assets to boost its market share -- a range of new models, the Renault Eco brand eligible for tax breaks for emissions-friendlier vehicles, and a price range well suited to the current economic conditions.
Head of sales Patrick Blain told a news conference that there were already some positive returns from a new French scheme to subsidise the scrapping of old cars, and that he expected further state credit support for the industry.
There was no immediate response from the company to comments from an unnamed government source quoted in daily Les Echos as saying that Renault required 2.5 billion euros ($3.42 billion) of funding. The government and carmakers are due to hold a summit meeting on Jan. 20.
MARKET SHARE STILL BELOW 2006
Total Renault sales in 2008 were 2.38 million cars and light commercial vehicles, against 2.48 million in 2007. The group's market share, while stable against 2007, eased slightly from the 3.7 percent registered in 2006.
Vehicle sales will be boosted when Renault consolidates the sales of Lada and other cars made by AvtoVAZ in Russia, in which it took a blocking minority stake last year.
Car sales fell across Europe in 2008, dipping 1.8 percent in Germany, 28 percent in Spain and 13.4 percent in Italy.
In France the decline was limited to 0.7 percent as a tax incentive on purchases of cleaner cars boosted sales of smaller vehicles where Renault and bigger local rival PSA Peugeot Citroen have a strong position.
Renault is targeting a profit margin of between 2.5 percent and 3.0 percent for 2008. Its financial results are due on Feb. 12.
At 0940 GMT, Renault shares were up 4.1 percent at 21.18 euros, well above its November 2008 low of 14.4 euros and after a drop of 81 percent last year. The Dow Jones Stoxx Auto index was up 1.16 percent.
(Writing by Marcel Michelson; editing by John Stonestreet)